3 Things You Should Know About Small Business: May 21

NEW YORK (MainStreet) -- What's happening in small business today?

1. Why every entrepreneur needs a mentor. Finding someone you can bounce ideas off of and who is willing to tell you the truth will be much more valuable than turning to friends and family who will likely just say "yes" to support you, according to a blog post by Rieva Lesonsky, CEO of GrowBizMedia.

So how do you find the right mentor for your business? By getting out there and meeting people at events, through friends, even on Twitter, for instance. Make sure though to find someone in a position to be directly relevant to your business, as well as someone who has the time and inclination to help you, the article says.

2. Turn your intern into a great hire.Your summer intern may or may not be your next hire, but he or she will likely be someone's next full-time employee. Help to prepare the intern for a full-time job, and you'll ultimately benefit, says American Express(AXP) OPEN Forum.

Plot out your internship program by asking yourself why you need an intern and what you need the intern to do, as well as whether the intern should be full-time or part-time. Business owners who are unprepared when they take on interns are a disservice to everyone.

Assign a task and then let them figure out the best way to get it done. This kind of thinking is an excellent skill for interns to have, because the interns will be better equipped to enter the job force without always having to be micromanaged, AmEx says. But the fresh thinking could also open up new avenues in your business.

Ask them to observe client meetings, strategy sessions, trade shows, etc. This can also be an effective way of learning.

Make sure to check in with them on a regular basis and allow the interns to voice their opinions about past and future tasks.